The Financial Blog

Figures released from the Council of Mortgage Lenders (CML) show that more first time buyers then ever are looking for advice from mortgage advisers when it comes to finding the best mortgage rates and also the best mortgage for their needs.

The figure has increased to 82.5 per cent of first time buyers in the first quarter of 2008 compared to 72.5 per cent the same time last year. The figures also show that mortgage advisers are responsible fror 79 per cent of all remortgages, again a 10 per cent increase on the same time last year.

It just goes to show that people are open to and actively seeking professional financial advice when it comes to their mortgage and their Remortgaging.

Richard Farr, Director of the Association of Mortgage Intermediaries, said: “Mortgage intermediaries are playing a vital role in the current market place as first time buyers struggle to find a mortgage deal. The CML figures demonstrate the demand for advice from consumers, and the ability of intermediaries to find a good deal even during difficult times.”

“Consumers clearly value the advice they receive from mortgage brokers. It is important for government, regulators and the industry to recognise the value of intermediaries to consumers. Intermediaries are able to identify the most suitable product for the consumer at a competitive price and analysis of consumer attitudes show they value this advice much higher than that provided by the lenders. In these difficult times it is more important than ever for consumers to access good advice.”

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This entry was posted on Thursday, May 15th, 2008 at 11:16 am and is filed under Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.